Economy: Between 1824 and 1916, the economy was based on gold mining. Subsequently, an oil refinery, opened in the mid-1920s and once among the largest in the world, was the most important commercial operation on the island until its closure in 1985. However, it was re-opened in 1990 under an agreement with an American operator to establish transhipment (mainly between Venezuela and the USA), storage and refining facilities; and oil has now reassumed its central position in the Aruban economy. In the meantime, a sizeable tourism sector grew up. More recently, it has been joined by offshore service industries including finance and data processing. Aruba’s free-port status, ship bunkering and repair facilities are the island’s other main sources of revenue. However, in June 2000, Aruba was identified by the Organisation for Economic Cooperation and Development (OECD) as one of 35 ‘tax havens’ whose financial laws are believed to encourage large-scale tax evasion and money-laundering. The Government has since taken some measures to address the OECD’s concerns. Light industry is limited to the production of some tobacco products, drinks and consumer goods. Agriculture is confined to small-scale activity because of poor soil quality. Aruba is classed as an Associate Overseas Territory of the European Union. The most important trading partners are the Netherlands, the USA, Colombia and Venezuela.

Shopping: Aruba offers duty-free shopping at the airport or at specified duty-free establishments, but the tariffs at other stores are still low at 3.3%, and there are many bargains to be had in European porcelain, jewelry, perfumes, and clothing. The main shopping strip is to be found at the Seaport Village in Oranjestad. Stores are generally open from 8 am to 6 pm with a two-hour break for lunch between noon and 2 pm.

Banking Hours: Banks are open from 8:00 am to 4:00 pm, and cash may be obtained at branches of the Caribbean Mercantile Bank and the ABN-AMRO Bank with any major credit card or with Cirrus network ATM cards. Please note however that the ATM's dispense only local currency.

Currency: The florin is the official currency of Aruba, which is pegged to the U.S. dollar at AFL 1.79 per US$ 1.00. The Centrale Bank van Aruba deals with the local foreign exchange banks within the margins of 0.0029795 percent on either side of the parity. Official buying and selling rates for other currencies are set daily on the basis of the U.S. dollar rates on the international markets.

Note: The Aruba Florin is tied to the US Dollar.

Currency exchange: The US Dollar is widely accepted. Other currencies can be exchanged in banks. Currency can also be obtained from cash dispensers in Oranjestad.

Credit & debit cards: Accepted by many shops and hotels. They can also be used in cash dispensers.

Travellers cheques: US Dollars or Dutch Guilders are recommended.

Currency restrictions: The import and export of local and foreign currency is unlimited. The import of Dutch currency and currency from Surinam is prohibited. The Aruba Florin cannot be exchanged outside Aruba.

Commercial Information: The following organisation can offer advice: Aruba Chamber of Commerce and Industry, PO Box 140, Zoutmanstraat 21, Oranjestad (tel: (8) 21566; fax: (8) 33962; e-mail: auachamber@setarnet.aw).

Conferences/Conventions: Information can be obtained from the following organisation: De Palm Tours NV, L G Smith Boulevard 142, Oranjestad (tel: (8) 24400; fax: (8) 23012; e-mail: info@depalmtours.aw